Human Capital: Page 34

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    A CFO With No Accounting Background? No Way!

    Some people ask if a CFO needs to have an accounting background. Is that even a question?Hell yes. They not only should, they must.Dan Gotte A chief financial officer is responsible for the financial health of a company, from overseeing transaction-level data, to publishing financial statements, ...

    By Dan Gotte • May 19, 2016
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    U.S. Doubles Threshold for Overtime Eligibility

    The Obama Administration has announced new regulations that will extend overtime pay to 4.2 million workers, saying the move would stimulate economic growth by strengthening the middle class.The rule unveiled Tuesday doubles the salary threshold for time-and-a-half overtime eligibility from $455 ...

    By Katie Kuehner-Hebert • May 18, 2016
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    CFOs on the Move: Week Ending May 6

    Health insurer Anthem has promoted John Gallina to finance chief, effective June 1. Gallina, who takes over for Wayne DeVeydt, currently heads finance for the firm’s commercial and specialty business divisionMike Randolfi Mike Randolfi has been appointed to the top finance spot at Groupon, succee...

    By Joan Urdang • May 6, 2016
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    CFO Values ‘What You See Is What You Get’ Mindset

    Michael Levine prefers a WYSIWYG — “what you see is what you get” — approach to business.The CFO of business-to-business payments company Payoneer, Levine doesn’t believe in providing purposely understated forecasts in order to be an over-delivery hero.If he doesn’t understand why a number is wha...

    By • May 5, 2016
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    Company’s Culture Helps Hat-Juggling Finance Chief Make an Impact

    What do you get when you combine the opportunity to work in an exciting, emerging industry with a company culture that allows you to thrive?Phil Schraeder You might get what you’ve always wanted. That’s the case for Phil Schraeder, CFO and chief operating officer of GumGum, an advertising technol...

    By • April 18, 2016
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    CFOs on the Move: Week Ending April 15

    Revlon has appointed Juan Figuereo as its new finance chief. He previously headed finance at NII Holdings, and he is also a former CFO of Newell Rubbermaid and of Cott Corp.Jill Golder Jill Golder has been named to head finance at Cracker Barrel Old Country Store. She will join the firm later thi...

    By Joan Urdang • April 15, 2016
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    Employers Feeling Pain of Obamacare Compliance

    More than two-thirds of employers favor repeal of the Affordable Care Act’s employer mandate, citing the cost and administrative burden of showing they are in compliance, according to a new survey.The benefits consulting firm Mercer said repeal of the mandate — with 70% in favor — came in second ...

    By Matthew Heller • April 13, 2016
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    CFOs on the Move: Week Ending April 8

    Gerard McGraw, president of Fidelity Institutional, has been selected to head finance at parent company FMR LLC. He replaces Alan Scheuer, who is retiring at the end of the quarter.Frank Bednar Rx Savings Solutions has named Frank Bednar to fill the top finance spot. Most recently, he was executi...

    By David Katz • April 8, 2016
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    Pension Sponsors Juggle Derisking Strategies

    As we reported last Thursday, steeply rising Pension Benefit Guaranty Corp. premiums are forcing pension plan sponsors to get more serious than ever about funding their plans.One result of moving closer to a fully funded plan is that the sponsor can afford to derisk a greater portion of the plan’...

    By • April 4, 2016
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    CFOs on the Move: Week Ending April 1

    Tribune Publishing has named Terry Jimenez to lead the finance function, replacing Sandra Martin. Jimenez is a former partner in IBM’s global business services.Mauricio Restrepo Mauricio Restrepo has been appointed finance chief of Molson Coors Brewing, effective May 2. He takes over for interim ...

    By Joan Urdang • April 1, 2016
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    American Airlines Flight Attendants Get Pay Hike

    A day after announcing it will offer profit-sharing to its more than 100,000 employees, American Airlines said Thursday it would increase pay for its 25,000 flight attendants by about 6%.Under its contract with flight attendants signed in December 2014, American was required to adjust pay scales ...

    By Matthew Heller • March 24, 2016
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    CFOs on the Move: Week Ending March 18

    State Street Corp. said that finance chief Michael Bell plans to leave his post within the next year. The firm plans a search for a replacement for Bell, who has led the finance function for almost three years.Manmeet Soni Mars Inc. has promoted Claus Aagaard to head finance. He succeeds Reuben G...

    By Joan Urdang • March 18, 2016
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    Ex-Chesapeake CEO Dies a Day After Indictment

    Former Chesapeake Energy CEO Aubrey McClendon died in a high-speed car wreck Wednesday, a day after he was charged in an antitrust case alleging he conspired to rig bids for oil and natural gas leases.Police said McClendon, 56, slammed into an embankment in Oklahoma City while traveling well over...

    By Matthew Heller • March 2, 2016
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    Ruling Lets Companies Cut Retiree Benefits Costs

    Strategies for providing effective health benefits to employees have shifted dramatically in the past two decades. Nonetheless, some companies continue to bear the burdens of legacy benefit liabilities.Nancy G. Ross Until recently, courts had a practice of interpreting benefits arrangements in co...

    By Nancy G. Ross and Brian D. Netter • Feb. 23, 2016
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    Why Are CFO Jobs Taking Longer to Fill?

    CFO openings are taking longer to fill these days, as noted in a recent Wall Street Journal article. While the article didn’t get very deeply into the question of why this is happening, it suggested that both companies and candidates are getting pickier.John Touey John ToueyThat’s true, so let’s ...

    By John Touey • Feb. 16, 2016
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    Companies Should Stop Paying Sales Commissions

    It’s not hard to validate the oft-expressed observation that sales is typically the sole responsibility of autonomous agents. Companies advise their salespeople that they will be held accountable for outcomes, not activities. They are paid commissions — and sometimes only commissions, with no fix...

    By Justin Roff-Marsh • Feb. 12, 2016
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    CFOs on the Move: Week Ending Feb. 12

    Independent Coca-Cola bottler Coca-Cola Bottling Co. Consolidated has promoted treasurer Clifford Deal III to the top finance spot, effective April 1. He takes over for James Harris, CFO since 2008, who has been appointed executive vice president, business transformation.Patrick Grismer Hyatt Hot...

    By Joan Urdang • Feb. 12, 2016
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    Merit Pay Programs Falling Short of Goals

    A surprisingly large number of North American employers say their merit programs aren’t an effective way of driving and rewarding employee performance, according to a new survey.The consulting firm Willis Towers Watson reported that only 20% of North American companies find merit pay to be effect...

    By Matthew Heller • Feb. 8, 2016
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    Delta’s Paul Jacobson: ‘I Never Dreamed It Could Be This Good’

    For the CFO of a large international airline, weather, economic volatility, fuel costs, and world events like terrorist attacks, civil strife, and spreading viruses are among the many unpredictable factors that can play havoc with travel volume and, hence, financial forecasts and results.Delta CF...

    By • Feb. 3, 2016
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    Middle Market Companies Grow 6.1% in Q4

    Amid flattening job growth and lower confidence in economic trends, U.S. middle market companies reported stable growth to close out 2015, according to a new survey.The National Center for the Middle Market said companies in that sector showed year-over-year growth of 6.1% in the fourth quarter, ...

    By Katie Kuehner-Hebert • Jan. 27, 2016
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    Many CFOs Paying a Premium for New Talent

    Many companies in the U.S. and Canada are willing to pay a premium as they recruit new talent in the finance field, according to surveys conducted by staffing firm Robert Half.In the U.S., 54% of CFOs surveyed reported offering more money for new hires, with an average pay increase of 10%, and 36...

    By Katie Kuehner-Hebert • Jan. 8, 2016
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    Consultants Underperform Finance Staff on Decision Support

    This article has been updated to include insights from CFOs and to correct imprecise wording related to what respondents answered CEB survey questions.Finance departments are notoriously under the gun these days, given the proliferation of requests for decision-support analyses from business unit...

    By • Jan. 6, 2016
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    Gender Parity in Boardroom Still a Distant Goal

    While representation of women on the boards of U.S. publicly-traded companies has been increasing, equality could still be decades away, according to a new report by the Government Accountability Office.In 2014, women accounted for about 16% of board seats in the S&P 1500, a ratio that has in...

    By Katie Kuehner-Hebert • Jan. 6, 2016
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    Pension Plan Funded Status Unchanged at 82%

    There was no change in the pension funded status of the largest U.S. corporate plan sponsors at the end of 2015 as a rise in interest rates was mostly offset by weak global stock markets, according to a new survey.The professional services company Towers Watson estimated the aggregate pension fun...

    By Matthew Heller • Jan. 4, 2016
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    One-on-One Coaching Misses the Mark

    Companies around the world are spending billions of dollars every year to coach their leaders despite estimates that coaching fails as often as it succeeds.Antoine Gerschel, left, and Lawrence Polsky A 2012 Deloitte report estimated that U.S. companies were spending about $14 billion annually on ...

    By Lawrence Polsky and Antoine Gerschel • Jan. 4, 2016